Montréal, September 5, 2019. Midland Exploration inc. (« Midland ») (TSX-V : MD) is pleased to announce the discovery of new mineralized float fields several kilometers north and north-east of Mythril and resumes drilling (Phase III; 10 drill holes, 2650 meters total). Final results of phase II drilling on the Mythril Cu-Au-Mo-Ag project (100% Midland) have also been received. This release reports results for drill holes MYT-19-016 to MYT-19-026. Results for drill holes MYT-19-011 to MYT-19-015 were published on July 30th, 2019. A regional prospecting campaign is also in progress, and mainly targets strong Cu-Mo lake sediment anomalies from a high-density survey performed in June on Mythril and other claim blocks with strong Cu-Mo potential.
Discovery of new mineralized float fields N and NE of Mythril
The August prospecting campaign on Mythril led to the discovery of five (5) new significant Cu-Au-Mo-Ag mineralized float fields located several kilometers the north and northeast of the known Mythril trend. A total of 74 mineralized floats were found in five main float fields. The most important float field is located about 5 km northeast of the known Mythril trend and contains 48 floats scattered over an area of 1.2 kilometers by 200 meters large. These 48 floats yielded an average of 0.78 % Cu, 0.56 g/t Au, 0.07 % Mo and 6.73 g/t Ag, with values up to: 8.6 % Cu, 10.4 g/t Au and 25.6 g/t Ag (Sample #410279) and 0.83 % Mo (Sample #410288) from grab samples. The large number of mineralized floats in this field suggest a very local origin. Two (2) additional float fields were found about 4 kilometers northeast of Mythril and collectively yield an average of 0.39 % Cu, 0.55 g/t Au, and 6.92 g/t Ag from 4 grab samples. Two locally mineralized outcrops in the same area yielded respectively 1.17 % Cu, 0.55 g/t Au and 23.2 g/t Ag, and 0.47 % Cu, 0.52 g/t Au, 0.03 % Mo et 15.2 g/t Ag in grab samples.
Finally, two (2) more mineralized float fields (21 floats) were found about 2 kilometers north of Mythril and are distinguished as being dominated by bornite over the usual chalcopyrite. These bornite-rich float fields yielded an average of 0.66 % Cu, 0.36 g/t Au and 6.14 g/t Ag from 21 grab samples, with values up to: 2.09 % Cu (Sample #410575) and 1.52 g/t Au (Sample #410574). These new discoveries highlight the very significant regional exploration potential for Cu-Au-Mo-Ag in the Mythril area. Note that grab samples are selective by nature and values returned are not representative of mineralized zones.
Drilling resumes (Phase III)
Drilling on Mythril has resumed in August, for a phase III with a minimum of ten (10) holes totalling 2650 meters. Five (5) holes on sections 1100 to 1500E will target the extensions of mineralized zones previously intersected in phase I and II drilling, in MYT-19-006 (1.07 % Cu, 0.37 g/t Au, 8.87 g/t Ag – 1.41 % CuEq.* – over 12.55 meters) and MYT-19-011 (1.34 % Cu 0.69 g/t Au, 0.04 % Mo and 9.54 g/t Ag – 2.04 % CuEq.* – over 9.0 meters). Another hole on section 1300E will test a high metal factor induced polarization (IP) anomaly located between holes MYT-19-007 and MYT-19-017. Two holes will also test the downward extensions of mineralized zones found on section 300E in MYT-19-012 (0.17 % CuEq.* over 227.1 meters) and on section 150E in MYT-19-014 (0.93 % Cu, 0.12 g/t Au, 0.002 % Mo and 5.66 g/t Ag – 1.14 % CuEq.* – over 9.8 meters). These results were released in previous press releases (May 16th, 2019 and July 30th, 2019). One hole on section 2400E will target the Arwen locally sourced float field, that returned high gold values in grab samples in 2018 (up to 16.8 g/t Au). Finally, one hole will also test the downward extension of mineralization found in MYT-19-024 on section 200E (0.29 % Cu, 0.03 g/t Au, 0.007 % Mo and 1.0 g/t Ag – 0.35 % CuEq.* – over 51.0 meters).
Final results of Phase II drilling (MYT-19-016 to MYT-19-026)
Several other drill intervals with grades of more than 1% CuEq.* were intersected during the drilling campaign and are detailed in the figures accompanying this release. Best results from drill holes MYT-19-016 to MYT-19-026 are listed in the following table:
Table 1: Best results – Drill holes MYT-19-016 to MYT-19-026
*Metal prices used to calculate CuEq.*: Au $1,285/oz, Cu $2.77/lb, Ag $15/oz, Mo $10.90/lb. Recoveries of 100% of all metals are assumed.
**The true thickness of reported drill intervals cannot be determined with the information currently available.
Copper mineralization at Mythril is hosted in a variably altered, foliated granodiorite intrusion, previously interpreted as a quartz-feldspar paragneiss based on limited outcrop exposures. The granodiorite is cut by barren granitic pegmatite dykes and granitic dykes that host variable mineralization. Copper mineralization in the granodiorite is closely associated with decimeter- to metre-scale potassic alteration zones; visually, the latter are darker and exhibit a stronger foliation, are enriched in biotite and commonly contain magnetite.
Midland currently plans a follow-up exploration campaign on the new float fields discovered north and northeast of Mythril. This campaign will include additional prospecting, soil geochemistry and ground geophysics (induced polarization) to define new drilling targets.
Exploration program design and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every 20 samples. Rock samples on the project are assayed for gold by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Minerals laboratories in Vancouver, British Columbia. All samples are also analysed for multi-elements, using four-acid ICP–AES method (ME-ICP61), also at ALS Minerals laboratories in Vancouver, British Columbia. Samples that exceed 1% copper, zinc, molybdenum or nickel are reanalyzed by four-acid ICP-AES optimized for high grades.
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as BHP Billiton Canada Inc., Agnico Eagle Mines Limited, Osisko Mining Inc., SOQUEM INC., Nuvavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.
This press release was prepared by Sylvain Trépanier, P.Geo., VP Exploration James Bay and Northern Quebec for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release. For further information, please consult Midland’s website or contact:
For further information, please consult Midland’s website or contact:
Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax: 450 420-5978
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This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.